- Strategy, the company formerly known as MicroStrategy, sold 32 BTC for about US$2.5 million at an average of roughly US$77,135 between May 26 and 31, its first Bitcoin sale since December 2022.
- The timing upended a Polymarket market on whether Strategy would sell BTC by May 31; the trade cleared before the deadline yet was unknown to the public when betting closed.
- The May 31 contract has been resolved “No” twice and now sits in a final-review window headed to a UMA oracle vote, with related contracts pushing combined volume above US$20 million
Strategy’s first Bitcoin (BTC) sale in more than three years has thrown a Polymarket prediction market into disarray, after the company disclosed on June 1 that it had sold 32 BTC before a May 31 betting deadline that hinged on exactly that question.
According to a Form 8-K filed with the US Securities and Exchange Commission (SEC) on June 1, Strategy sold 32 Bitcoin for about US$2.5 million (AU$3.5 million) at an average price of roughly US$77,135 (AU$108K) between May 26 and 31, its first BTC sale since December 2022. The proceeds went toward funding dividend obligations.
The disclosure arrived a day after a Polymarket market asking whether Strategy would sell any Bitcoin by May 31 had already closed. On-chain timestamps and the filing showed the sale executed inside the window, yet because no public confirmation existed when trading ended, the result split the market’s participants.
Related: Bankless Co-Founder Exits Ether, Says ‘ETH Is Money’ Thesis Has Run Its Course
A Bet Divided
“Yes” holders argued that the on-chain record and the filing prove the sale happened before the deadline and that the contract should pay out accordingly.
“No” holders countered that a trade nobody could verify at the time cannot count, pointing to a Polymarket resolution note stating that “no information from MSTR, on-chain data, or consensus of credible reporting confirmed that MicroStrategy sold BTC within the market’s timeframe.”
The May 31 contract has been resolved “No” twice, with each ruling challenged, and now sits in a final-review window before escalation to a UMA vote, where holders of the optimistic oracle’s token cast the deciding call.
Related: Trump Pushes ‘Future-Proof’ Crypto Rules as CLARITY Act Faces Senate Battle
The post Strategy’s Surprise Bitcoin Sale Throws $20M Polymarket Bet Into Chaos appeared first on Crypto News Australia.
